2015 Q4 Form 10-Q Financial Statement

#000092014815000133 Filed on October 30, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q3
Revenue $2.245B $2.317B $1.552B
YoY Change 48.4% 49.33% 6.13%
Cost Of Revenue $1.560B $1.552B $980.6M
YoY Change 61.45% 58.31% 7.22%
Gross Profit $740.7M $764.9M $571.2M
YoY Change 35.54% 33.91% 4.31%
Gross Profit Margin 33.0% 33.01% 36.81%
Selling, General & Admin $406.2M $385.6M $305.7M
YoY Change 28.63% 26.14% 9.57%
% of Gross Profit 54.84% 50.41% 53.52%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $113.3M $241.9M $58.50M
YoY Change 78.43% 313.5% 1.04%
% of Gross Profit 15.3% 31.63% 10.24%
Operating Expenses $450.1M $385.6M $305.7M
YoY Change 35.9% 26.14% 9.57%
Operating Profit $290.6M $308.1M $241.4M
YoY Change 34.97% 27.63% -1.31%
Interest Expense -$53.90M $55.90M $25.90M
YoY Change 92.5% 115.83% 4.86%
% of Operating Profit -18.55% 18.14% 10.73%
Other Income/Expense, Net -$3.400M -$56.60M -$22.40M
YoY Change -2.86% 152.68% 53.42%
Pretax Income $179.2M $251.5M $219.0M
YoY Change -1.21% 14.84% -4.78%
Income Tax $69.00M $96.50M $81.50M
% Of Pretax Income 38.5% 38.37% 37.21%
Net Earnings $110.0M $154.7M $137.2M
YoY Change -8.03% 12.76% -7.48%
Net Earnings / Revenue 4.9% 6.68% 8.84%
Basic Earnings Per Share $1.09 $1.53 $1.62
Diluted Earnings Per Share $1.07 $1.51 $1.59
COMMON SHARES
Basic Shares Outstanding 101.2M shares 101.1M shares 84.90M shares
Diluted Shares Outstanding 102.9M shares 86.50M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $716.0M $713.0M $576.0M
YoY Change 23.45% 23.78% 231.03%
Cash & Equivalents $716.4M $713.0M $575.7M
Short-Term Investments
Other Short-Term Assets $339.0M $415.0M $131.0M
YoY Change 114.56% 216.79% 32.32%
Inventory $191.0M $181.6M $138.8M
Prepaid Expenses $339.3M $378.3M $126.3M
Receivables $1.218B $1.235B $841.6M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.621B $2.707B $1.688B
YoY Change 54.85% 60.39% 39.15%
LONG-TERM ASSETS
Property, Plant & Equipment $1.747B $1.807B $754.7M
YoY Change 122.17% 139.41% 12.21%
Goodwill $6.424B $6.069B $3.066B
YoY Change 3.58% 97.91% 2.52%
Intangibles $3.324B $3.561B $1.489B
YoY Change 125.2% 139.09% -6.99%
Long-Term Investments $58.00M $62.00M $95.00M
YoY Change -37.63% -34.74% 9.2%
Other Assets $150.0M $217.0M $138.8M
YoY Change -3.1% 56.34% 13.68%
Total Long-Term Assets $11.48B $11.72B $5.544B
YoY Change 104.73% 111.31% 1.28%
TOTAL ASSETS
Total Short-Term Assets $2.621B $2.707B $1.688B
Total Long-Term Assets $11.48B $11.72B $5.544B
Total Assets $14.10B $14.42B $7.232B
YoY Change 93.17% 99.43% 8.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $497.4M $445.0M $286.2M
YoY Change 76.2% 55.49% 9.24%
Accrued Expenses $633.1M $583.0M $365.2M
YoY Change 85.44% 59.64% 18.49%
Deferred Revenue
YoY Change
Short-Term Debt $95.00M $420.0M $0.00
YoY Change
Long-Term Debt Due $419.5M $254.0M $98.00M
YoY Change 21.98% 159.18% -10.91%
Total Short-Term Liabilities $1.701B $1.844B $749.0M
YoY Change 74.18% 146.25% 10.05%
LONG-TERM LIABILITIES
Long-Term Debt $5.940B $6.007B $2.917B
YoY Change 121.43% 105.91% 14.24%
Other Long-Term Liabilities $323.1M $351.1M $223.9M
YoY Change 17.83% 56.81% -26.28%
Total Long-Term Liabilities $6.263B $6.358B $3.141B
YoY Change 111.82% 102.41% 9.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.701B $1.844B $749.0M
Total Long-Term Liabilities $6.263B $6.358B $3.141B
Total Liabilities $9.145B $9.493B $4.443B
YoY Change 104.87% 113.69% 8.33%
SHAREHOLDERS EQUITY
Retained Earnings $4.224B $4.109B $3.686B
YoY Change 11.56% 11.48% 6.47%
Common Stock $1.987B $1.950B $10.40M
YoY Change 19000.96% 18646.15% -2.8%
Preferred Stock
YoY Change
Treasury Stock (at cost) $978.1M $976.3M $965.5M
YoY Change 1.31% 1.12% 0.69%
Treasury Stock Shares 22.60M shares
Shareholders Equity $4.945B $4.807B $2.771B
YoY Change
Total Liabilities & Shareholders Equity $14.10B $14.42B $7.232B
YoY Change 93.17% 99.43% 8.15%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $110.0M $154.7M $137.2M
YoY Change -8.03% 12.76% -7.48%
Depreciation, Depletion And Amortization $113.3M $241.9M $58.50M
YoY Change 78.43% 313.5% 1.04%
Cash From Operating Activities $384.6M $684.7M $175.6M
YoY Change 79.97% 289.92% -25.02%
INVESTING ACTIVITIES
Capital Expenditures -$85.10M -$136.9M -$52.60M
YoY Change 83.8% 160.27% 0.96%
Acquisitions
YoY Change
Other Investing Activities -$43.50M -$78.10M -$3.000M
YoY Change -56.93% 2503.33% -161.22%
Cash From Investing Activities -$128.6M -$215.0M -$55.60M
YoY Change -12.7% 286.69% 17.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -239.6M -205.5M -18.40M
YoY Change 307.48% 1016.85% -85.49%
NET CHANGE
Cash From Operating Activities 384.6M 684.7M 175.6M
Cash From Investing Activities -128.6M -215.0M -55.60M
Cash From Financing Activities -239.6M -205.5M -18.40M
Net Change In Cash 16.40M 264.2M 101.6M
YoY Change 115.79% 160.04% 68.77%
FREE CASH FLOW
Cash From Operating Activities $384.6M $684.7M $175.6M
Capital Expenditures -$85.10M -$136.9M -$52.60M
Free Cash Flow $469.7M $821.6M $228.2M
YoY Change 80.65% 260.04% -20.29%

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us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
60000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
900000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
500000 USD
CY2014Q3 us-gaap Profit Loss
ProfitLoss
137500000 USD
us-gaap Profit Loss
ProfitLoss
392700000 USD
CY2015Q3 us-gaap Profit Loss
ProfitLoss
153100000 USD
CY2015Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1806800000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
800000 USD
CY2014Q3 us-gaap Reimbursement Revenue
ReimbursementRevenue
0 USD
us-gaap Reimbursement Revenue
ReimbursementRevenue
0 USD
CY2015Q3 us-gaap Reimbursement Revenue
ReimbursementRevenue
47400000 USD
us-gaap Reimbursement Revenue
ReimbursementRevenue
118700000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
600000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
3300000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
0 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
60000000 USD
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
0 USD
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
285000000 USD
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
0 USD
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
250000000 USD
us-gaap Restructuring Charges
RestructuringCharges
60900000 USD
CY2014Q4 us-gaap Restructuring Reserve
RestructuringReserve
22100000 USD
CY2015Q3 us-gaap Restructuring Reserve
RestructuringReserve
52300000 USD
us-gaap Restructuring Reserve Accrual Adjustment
RestructuringReserveAccrualAdjustment
700000 USD
us-gaap Restructuring Reserve Accrual Adjustment
RestructuringReserveAccrualAdjustment
-1000000 USD
CY2015Q3 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
32500000 USD
CY2015Q3 us-gaap Restructuring Reserve Noncurrent
RestructuringReserveNoncurrent
19800000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3786100000 USD
CY2015Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
4108700000 USD
CY2014Q3 us-gaap Revenues
Revenues
1551800000 USD
us-gaap Revenues
Revenues
4498900000 USD
CY2015Q3 us-gaap Revenues
Revenues
2317300000 USD
us-gaap Revenues
Revenues
6379600000 USD
CY2014Q3 us-gaap Sales Revenue Net
SalesRevenueNet
1551800000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
4498900000 USD
CY2015Q3 us-gaap Sales Revenue Net
SalesRevenueNet
2269900000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
6260900000 USD
CY2014Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
305700000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
888500000 USD
CY2015Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
382500000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1217100000 USD
CY2015Q1 us-gaap Senior Long Term Notes
SeniorLongTermNotes
2900000000 USD
us-gaap Severance Costs1
SeveranceCosts1
9800000 USD
us-gaap Severance Costs1
SeveranceCosts1
33800000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
35100000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
77700000 USD
us-gaap Stock Issued During Period Shares Acquisitions
StockIssuedDuringPeriodSharesAcquisitions
15300000 shares
us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
1500000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
6600000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
10800000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
229900000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
0 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
2491300000 USD
CY2014Q3 us-gaap Stockholders Equity
StockholdersEquity
2770800000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
2820500000 USD
CY2015Q3 us-gaap Stockholders Equity
StockholdersEquity
4913500000 USD
CY2014Q4 us-gaap Treasury Stock Number Of Shares Held
TreasuryStockNumberOfSharesHeld
22500000 shares
CY2015Q3 us-gaap Treasury Stock Number Of Shares Held
TreasuryStockNumberOfSharesHeld
22500000 shares
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
965500000 USD
CY2015Q3 us-gaap Treasury Stock Value
TreasuryStockValue
976300000 USD
CY2014Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
0 USD
CY2015Q3 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
161800000 USD
CY2015Q3 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
90900000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
16700000 USD
CY2015Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
27900000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
8200000 USD
CY2015Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
9500000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
16700000 USD
CY2015Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
27900000 USD
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
86500000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
86500000 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
102900000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
99700000 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
84900000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
84900000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
101100000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
97900000 shares

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